Matthew Dalton, Dow Jones Newswires | January 01, 2008
AFTER several years of crippling disasters, oil giant BP is hoping to achieve operational health in 2008.
But questions remain about whether lingering problems within the company’s sprawling US operations could undermine its turnaround.
This year will be the first since 2004 that BP’s two largest US refineries and its giant oil field at Prudhoe Bay in Alaska are expected to operate at full capacity for most of the year. The deadly explosion in March 2005 at its refinery in Texas City, Texas, was the first and most serious in a string of disasters that have cost BP billions of dollars in profits.